The Concord Corporation is located in midtown Madison. During the past several years, net income has been declining because of suburban shopping centers. At the end of the companys fiscal year on November 30, 2020, the following accounts appeared in two of its trial balances.

prepare a...

1. Income statement

2. Retained earnings statement

3. Balance Sheet

4. Account titles and their explanations

Accounts Payable Accounts Receivable Accumulated Depr.-Equipment Cash Common Stock Cost of Goods Sold Dividends Freight-Out Equipment Depreciation Expense Insurance Expense Interest Expense Interest Revenue Unadjusted Adjusted $25,000 $25,000 30,300 30,300 35,000 46,000 26,000 26,000 40,200 40,200 509,000 509,000 10,500 10,500 5,000 5,000 146,500 146,500 11,000 7,100 6,200 6,200 9,000 9,000 Inventory Notes payable Prepaid Insurance Property Tax Expense Property Taxes Payable Rent Expense Retained Earnings Salaries and Wages Expense Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Sales Revenue Utilities Expense Unadjusted Adjusted $29,000 $29,000 36,500 36,500 10,500 3,400 2,500 2,500 17,000 17,000 61,700 61,700 94,900 94,900 11,000 4,500 7,800 7,800 700,000 700,000 8,2008 ,200 6,500